28 March 2024
Pricewatch | 3 Nov 2020 | Gas Matters Today
Publication date: 03 November 2020
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Crude oil prices are rebounding as the US goes to the polls, with Brent and WTI today opening more than 3% higher after yesterday gaining 4% and 2.8% in a remarkable turn-around that saw them close at USD 38.97/barrel and USD 36.81/barrel, respectively. Volatility was always expected in the run-up to the 2020 presidential election, and with widespread speculation of a contested result, trading sentiment could remain jittery for some time after the final polling data is officially confirmed.
Natural gas prices fell across the board yesterday, with US gas benchmark Henry Hub’s front month losing 3.3%, and European hubs NBP and TTF falling 3.6% and 2.9% to hit the equivalent of USD 5.16/MMBtu and USD 4.66/MMBtu, respectively. CME’s December-dated JKM futures contract lost another 1.5% to close at USD 6.92/MMBtu.
Front-month futures and indexes at last close with day-on-day changes (click to enlarge):
Time references based on London GMT. Brent, WTI, NBP, TTF and EU CO2 data from ICE. Henry Hub, JKM and API2 data from CME. Prices in USD/MMBtu based on exchange rates at last market close. All monetary values rounded to nearest whole cent/penny. Text and graphic copyright © Gas Strategies, all rights reserved.